Course: Optimization Methods

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Course title Optimization Methods
Course code KSY/OME
Organizational form of instruction Lecture + Lesson
Level of course Master
Year of study not specified
Semester Winter
Number of ECTS credits 4
Language of instruction Czech
Status of course Compulsory-optional
Form of instruction Face-to-face
Work placements Course does not contain work placement
Recommended optional programme components None
  • Rozkovec Jiří, Mgr.
Course content
Lectures: 1. Optimization models in economic decission 2. Linear optimization models 3. Optimization software 4. Integer programming - models, methods 5. Production planning with fixed costs 6. Non-linear optimization problems 7. Multi-criteria programming 8. Multi-criteria decision making 9. Goal programming 10. Portfolio optimization, optimal asset allocation 11. Simulations and their applications within optimization 12. Data Envelopment Analysis (DEA) - models, efficiency measurement 13. Efficiency improvement using DEA - inputs/outputs optimization 14. Efficiency increasing by optimization of inputs and outputs Seminary (topics): Seminaries follow up the lectures (demonstration of practical usage). 1. Examples of optimizational problems in practice. 2. Llinear programming problem (LPP), solution by graphing. 3. One-phase simplex method. 4. Two-phase simplex method, economical interpretation of results. 5. Basic optimizational software. 6. Advanced optimizational software.. 7. Dual prices in LPP and their interpretation. 8. Sensitivity analysis in LPP. 9. Integer programming, optimizational problems with fixed costs. 10. Non-linear optimizational problems 11. Multi-criteria programming. 12. Methods of multi-criteria decision making.

Learning activities and teaching methods
Monological explanation (lecture, presentation,briefing)
  • Class attendance - 56 hours per semester
Learning outcomes
The course provides a basic overview of optimization problems and their solution methods. It starts with a linear programming problem and closes with simulations. Except of the theoretical part students meet with various software products to be able to solve applied problem from management, logistics and finance etc. The emphasis is put on the model formation, not on the theoretical background.
Application of mathematical models in optimization in economics and other fields, solving of the optimization problems with computer
calculus, integral calculus, linear algebra

Assessment methods and criteria
Combined examination

Credit: seminary work - examples to solve. Exam: written form, min. 70% of points.
Recommended literature
  • Online manuály firmy LINDO Systems Inc. dostupné z:
  • DLOUHÝ, M. Simulace pro ekonomy. Oeconomica. Praha, 2005. ISBN 80-245-0973-3.
  • DOSTÁL, P. a J. PETRUCHA. Optimalizační metody v informačním managementu. Akademické nakladatelství CERM. Brno, 2013. ISBN 80-7204-852-6.
  • EISELT, H. A. a C. L. SANDBLOM. Operations Research: A Model-Based Approach. Springer. Berlin, 2012. ISBN 978-3-642-31053-9.
  • JABLONSKÝ, J. Operační výzkum. Professional Publishnig. Praha, 2007. ISBN 978-80-86946-44-.
  • KOŘENÁR, V., et al. Optimalizační metody. Oeconomica. Praha, 2003. ISBN 80-245-06092.
  • KUBIŠOVÁ, A. Operační výzkum. Vysoká škola polytechnická Jihlava. Jihlava, 2014. ISBN 978-80-87035-83-2.
  • LANGE, K. Optimization. New York, 2013. ISBN 978-1-4614-5837-1.
  • LYER, P. Operations research. New Delhi, 2008. ISBN 978-0-07-066902-4.
  • PÁNKOVÁ, V. Nelineární modely a metody. Oeconomica. Praha, 2002. ISBN 80-245-0426-X.
  • PELIKÁN, J. Diskrétní modely. VŠE Praha. Praha, 1999. ISBN 80-7079-179-9.
  • PELIKÁN, J., et al. Kvantitativní management. Oeconomica. Praha, 2011. ISBN 978-80-24518-30-5.
  • Výkový software. LINDO Systems, Excel, Matematica..
  • ZHU, J. Quantitative models for performance evaluation and benchmarking: data envelopment analysis with spreadsheets. London, 2015. ISBN 978-3-319-06646-2.

Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester
Faculty: Faculty of Economics Study plan (Version): Managerial Informatics (2015) Category: Economy 1 Recommended year of study:1, Recommended semester: Winter